Kathmandu. Prabhu Pay, the digital payment service operated by Prabhu Technology Pvt. Ltd., is going to stop now.
Nepal Rastra Bank (NRB) has decided to cancel the license of the payment service provider for not renewing the license of the company.
Prabhu Technology Pvt. Ltd., established in 2017 B.S., has been providing digital payment services through Prabhu Pay Wallet.
The company was incurring losses as it could not sustain operating expenses as it could not do enough business in the competitive market.
In order to stay in existence, IME Pay and Khalti Digital Wallet have merged with each other to be transformed into IME Khalti Pvt. Ltd.
